REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

The following table presents revenues in Gabon from contracts with customers as well as revenues associated with the obligations under the Etame PSC:


	Year Ended December 31,
	2025		2024		2023
Revenues from customer contracts:	(in thousands)
Sales under the COSPA or COSMA	$	176,508	$	205,965	$	261,801
Gabonese government share of Profit Oil taken in-kind	31,845		30,256		32,776
Carried interest recoupment	1,865		2,276		5,301
Royalties	(28,480)		(32,543)		(39,532)
Net revenues	$	181,738	$	205,954	$	260,346

The following table presents revenues in Egypt from contracts with customers:


	Year Ended December 31,
	2025		2024		2023
Revenues from customer contracts:	(in thousands)
Gross sales	$	225,957	$	250,946	$	272,613
Royalties	(85,250)		(104,449)		(110,569)
Selling costs	(744)		(531)		(995)
Net revenues	$	139,963	$	145,966	$	161,049

The following table presents revenues in Canada from contracts with customers:


	Year Ended December 31,
	2025		2024		2023
Revenues from customer contracts:	(in thousands)
Oil revenue	$	15,319	$	28,418	$	28,287
Gas revenue	2,052		1,849		3,467
NGL revenue	5,804		7,646		8,440
Other revenue	164		213		—
Royalties	(3,330)		(5,009)		(5,821)
Selling costs	(835)		(1,131)		(702)
Net revenues	$	19,174	$	31,986	$	33,671

The following table presents revenues in Cote d'Ivoire from contracts with customers:


	Year Ended December 31,
			2025		2024
Revenues from customer contracts:		(in thousands)
Sales under the sales and purchase agreements			$	16,528	$	87,870
Cote d’Ivoire government share of Profit Oil taken in-kind			1,869		7,212
Net revenues			$	18,397	$	95,082

For the years ended December 31, 2025, 2024 and 2023, our revenue concentration by customer for each operating segment are shown on the table below.

(1)For Cote d'Ivoire, reflects sales from April 30, 2024 through December 31, 2024 related to the Svenska Acquisition.